Cerity Partners LLC Buys New Shares in Textron Inc. (NYSE:TXT)

Cerity Partners LLC bought a new stake in shares of Textron Inc. (NYSE:TXT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 6,309 shares of the aerospace company’s stock, valued at approximately $508,000.

A number of other institutional investors also recently modified their holdings of TXT. Adage Capital Partners GP L.L.C. lifted its position in shares of Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after acquiring an additional 713,169 shares during the period. Swiss National Bank acquired a new position in Textron during the third quarter worth $50,696,000. JPMorgan Chase & Co. raised its holdings in Textron by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after buying an additional 596,214 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Textron during the fourth quarter worth $394,347,000. Finally, Primecap Management Co. CA raised its holdings in Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after buying an additional 477,720 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $94.00 on Thursday. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.48 and a beta of 1.30. The company has a fifty day moving average price of $92.11 and a 200-day moving average price of $83.81.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.75%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TXT. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.63.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.